NTPC's shopping spree may turn out to be a gift for its investors

Seen more as a play on dividend, investors may not be disappointed with NTPC’s flattish stock performance over the previous year. 

In fact, analysts remain bullish on the firm. This is despite the power sector continuing to languish from weak demand for electricity and supply-side constraints, including availability of coal not easing for the sector. 

Majority of the analysts say the recent buys and capacity expansion plans will work to NTPC’s advantage. 

ICICI Securities says that from FY20-23, NTPC may add over 14 Gw in standalone capacity, which will boost its regulated equity by Rs 40,000 crore. Regulated equity is